Stratasys to Focus on Independent Channel Development Initiatives
Stratasys does not expect the termination of its agreement with HP to have a material impact on its financial results for the current year and intends to work closely with HP to ensure a smooth transition for customers.
According to Scott Crump, chief executive officer and chairman of Stratasys, Stratasys has enjoyed a productive relationship with HP, and moving forward, will continue working towards the goal of achieving broader 3D printer usage worldwide. As the market for 3D printing technology grows, Stratasys is focused on further developing it’s independent channel distribution initiatives to expand it’s distribution reach even further. the recently-announced merger with Objet will help grow customer awareness of the many opportunities to deploy 3D printing and rapid prototyping techniques and will allow both companies to implement an even broader distribution channel with a more extensive geographic reach.
Under the terms of the definitive agreement signed in January 2010, Stratasys developed and manufactured for HP an exclusive line of 3D printers based on Stratasys’ patented Fused Deposition Modeling (FDM®) technology. Later that year, HP began a phased rollout of the 3D printers in the mechanical design (MCAD) market in select European countries.